Tanzania’s NALA wants to make Rwanda a settlement hub for East Africa
- NALA Money plans to make Rwanda a settlement hub for its East African remittance business.
- Flutterwave also announced a similar plan after acquiring a payment service provider license in Rwanda.
- NALA's acquisition of a license from Rwanda's National Bank allows them to offer cheaper international money transfers and integrate with local banks and telcos.
The decision by NALA Money to make Rwanda a settlement hub for its remittance business is a strategic move that can lead to cost savings and improved efficiency in international money transfers. This expansion aligns with Rwanda's goal of becoming a prominent hub for financial services firms and strengthens its position as a gateway to the African fintech market. The acquisition of a license from Rwanda's National Bank enables NALA to offer more competitive services and integrate with local players, enhancing its market presence.
